Credit Cards in the News: January 23-29, 2016

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Credit card news pops up every week and it’s not always easy to keep track of each story, especially all the stories about credit card fraud. That’s why we provide you with a summary of the top stories on CompareWallet.com so you can read what matters the most and not have to worry about all the other “fluff” news. Here are the highlights for January 23-29.

Wendy’s Announces a Breach

Wendy’s, the nationwide chain of fast-food restaurants, recently announced a credit card breach at some of their locations. The company has hired a cyber-security firm and launched a comprehensive investigation to determine the extent and magnitude of the breach. There’s no word yet on how many stores were affected or how long customers’ information might have been compromised; however, some experts have reported that the Wendy’s breach may be on par with that of the Target and Home Depot breaches. Read more…

Homeless Man Accepts Credit Cards

Panhandling is modernizing right along with the changes of payments technology. A homeless man from Detroit, Abe Hagenston, has made the news this week for accepting credit card payments instead of cash while panhandling. A web designer who lives on the streets, Abe has put his tech skills to work in order to organize a kind of union of homeless people, scheduling times and places for individuals to panhandle. In addition, he has come up with a way to digitally receive charity from passersbys, using a smartphone attachment that reads credit cards. Read more…

New Chase eATMs Can Use Smartphone App

JPMorgan Chase is ready to roll out a new generation of ATMs that allow customers to withdraw cash by using their smartphones. A successful trial run at 156 New York City branches has led to a nationwide rollout. The new machines will let customers withdraw bills in $1 and $5 denominations in addition to the standard $20 and $100. The withdrawal limit, now standing at $500 in most locations, will be increased to $3,000 in ATMs located within Chase branches. Read more…

LG Set to Launch Its White Card

LG’s White Card, a mobile credit card-sized payment tool, may officially launch next month. The mobile payment solution has been targeting consumers in South Korea, while U.S. availability is yet unknown. Similar to Coin, the White Card allows users to securely load up all of their banking payment info, and then use it to pay at any merchant via a swipe. When not in use, users can lock White Card. Read more…

American Express offers a Plethora of Perks on Prestigious Credit Card

The Platinum Card from American Express is the long-standing gold standard for prestigious credit cards. But many consumers may not be aware of the long list of perks and benefits that are available to cardholders. From concierge service, to lounge access, to fee credits, consumers could potentially save hundreds of dollars on their yearly travel expenses by leveraging the long list of extras available with this classy credit card. Read more…

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Our editors rate credit cards objectively based on the features the credit card offers consumers, the fees and interest rates, and how a credit card compares with other cards in its category. The ratings are the expert opinion of our editors, and not influenced by any remuneration this site receives from card issuers.

Excellent Credit

700 or Higher

Credit cards for excellent credit are intended for those with a credit score of 700 or Higher.

Good Credit

700 or Higher

Credit cards for excellent credit are intended for those with a credit score of 700 or Higher.

Fair Credit

Between 600 - 659

Credit cards for fair credit are intended for those with a credit score between 600 - 659.

Bad Credit

599 or Lower

Credit cards for bad credit are intended for those with a credit score of 599 or Lower.

No/Limited Credit

- - -

Credit cards for no credit are intended for those without an established credit score.